The profit made by selling an article for ₹8,800 is equal to the amount of loss incurred on selling the same article for ₹7,200. What will be the profit percent, if it was sold for ₹9,600?
Answer & explanation
Correct answer: option 1
First selling price = 8,800
Second selling price = 7200
The cost price = \(\frac{First\; selling \; price + Second \; selling \; price}{2}\) = \(\frac{8,800 + 7200}{2}\) = 8000
The new selling price = 9600
Profit = 9600 - 8000 = 1600
Profit percentage = 1600 × \(\frac{100}{8000}\) = 20%